R

Receiver

The term "receiver" refers to the person either appointed by the Court for some kind of special purposes or by a mortgage in order to use his/her legal power. In this second meaning, the receiver has legal rights over the charges referring to specific secured assets as it is determined by the Law of Property Act from 1925. It should be noted that the person of the "receiver" must not be confused with either the Official or the Administrative Receiver.

Generally speaking, a receiver is referred to as a person who is appointed by a secured lender. If this secured creditor holds a charge over a company's specific assets, a receiver will be appointed to try to take back control of these assets which normally should belong to the secured creditor.